Sri Lanka Ports Authority posts net profit growth

The Sri Lanka Ports Authroity (SLPA) posted a revenue of Rs45.6bn (US$289.56m) in 2017, with net profit growing from Rs1.03bn (US$8.26m) in 2016 to Rs13.3bn (US$84.46m).

The SLPA’s state-run terminals suffered a difficult first three quarters in 2017, especially the Jaya Container Terminal (JCT), but they bounced back in the fourth quarter as the authority posted throughput growth of 9.2%.

This growth has been carried into 2018, with the SLPA recording growth of 15.3% in the first quarter.

The Port of Colombo, which registered growth of 16.2% in this year’s first quarter, recorded a throughput 6.2m teu in 2017, a new milestone for the facility.

According to the Drewry Port Connectivity Index, Colombo was the best connected port in South Asia and the 13th best connected port in the world in the final quarter of 2017.

The SLPA has prepared a Three Year Development Plan to expedite the port sector development process in the country, aimed at further increasing container volumes and making Colombo “the maritime centre in Asia”.